They will be paying $69,658 a year in property taxes for the 12,000 square-foot mansion, which is located in East Hampton, New York, and sits adjacent to the exclusive Georgica Pond. Lori Schiaffino of Compass held the listing.

Scroll through for photos and to watch the video tour of Beyoncé and Jay-Z's new Hamptons abode.

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Designed by architect Stanford White and built a century ago, the home has been renovated and expanded over the years to incorporate new, modern amenities. The latest renovation was designed and sourced by builder Jeffrey Collé.

The property includes a detached, 1,800-square-foot guest cottage. There's also a 45-foot-long infinity pool and accompanying spa.

Elevated on a two-acre site with over 200 feet of waterfront on Georgica Pond, it's private and secluded. The previous owner reportedly rotated the original house 90-degrees to frame the views of the waterfront from the living room.